Prime Minister's Office
English rendering of PM's Speech in Times Now Summit
I congratulate everyone associated with Times Now, audience, workers, all the journalists in the field and desk, partners, cameramen and those handling the logistics for the summit. This is the first summit of Times Now. Best wishes to all of you!
Friends,
You have chosen the theme as - 'India Action Plan 2020', but today's India is working on the Action Plan of the entire decade. Yes, it is true that the methodology is that of a twenty-twenty  and the intention is to perform well and set new records in the whole series and turn the series into a series of India. The youngest country in the world is now in the mood to play at a fast pace. The 8 month-old Government has created a century of decisions, which is unprecedented! You will feel good, you will be proud that India took such fast decisions and has worked at a rapid pace.
Decision to bring every farmer in the country under the PM Kisan Yojana- DONE
Scheme for giving pension to farmers , labourers , shopkeepers - DONE
Ministry of Water Resources constituted to end the system of silos on important subjects like water- DONE
Creation of a Rupees 25 thousand crore special fund for fulfilling the dream of own homes for the Middle Class - DONE
Law giving rights to 40 lakh people of Delhi on their homes - DONE
Law related to triple talaq- DONE
Law of strict punishment for Child Abuse- DONE
Law empowering Transgender Persons - DONE
Chit fund scheme fraud prevention law - DONE
National Medical Commission Act- DONE
Historical reduction in corporate tax- DONE
Strict law to stop road accidents - DONE
Formation of Chief of Defence Staff- DONE
Delivery of Next Generation Fighter Plane to India - DONE
Bodo Peace Accord - DONE
Bru-Reang Permanent Settlement- DONE
Work for setting up of a Trust for the construction of the grand Ram temple - DONE
Abrogation of Article-370 - DONE
Decision to make Jammu Kashmir and Ladakh separate Union Territories - DONE
And
Citizenship Amendment Act too - DONE
I occasionally watch the 'News 30' on Times Now wherein a lot of news is shown in just a few minutes. It also was something like that. And this was just a sample. From this sample itself you must have felt that the Actual Action begins here!!! I can give you non-stop the list of many more such decisions. It could hit a double century rather than a century. But there is a purpose behind listing out these decisions made by the government. It is necessary to understand that.
Friends,
Today, the country is moving at a rapid pace in the 21st century, solving decades-old problems. We are working in the same way as the country with the most young people in the world should work, at a fast pace. Now India will not waste time. Now India will move fast and will move forward with a new confidence. These changes taking place in the country have infused a new energy and confidence in every level of the society.
Today so much self confidence is developing in the country's poor that they can improve their living standards and remove poverty from their lives. Today, the youth of the country are feeling confident that they can become Job creators and can face new challenges on their own. Today self confidence is growing in the women of the country. They can show their mettle in every field and can set new records. Today the farmer of the country is gaining confidence that he can work on other alternatives related to farming in order to increase his income. Today the entrepreneurs, businessmen and traders of the country are confident that they can work in a better business environment and can expand their businesses.
Today's India, today's New India has left many of its problems behind. Even after 70 years of independence, crores of people in our country were not connected to the banking system; crores of people had no gas connections. There were no toilets in the houses. There were many problems in which the people of the country and the nation were entangled. Now many such problems have been solved. Now India aims to expand its economy to 5 trillion dollars in the next five years. These goals are not easy, but there's nothing that could not be achieved!!
Friends,
Today India's Economy is worth nearly $ 3 trillion. There are so many informed people here. I ask you one more question. Did you ever hear that the country had set a target of achieving a $ 3 trillion economy? No. We reached $ 3 trillion in 70 years. Earlier nobody asked the question - why it took so long nor did anyone answer. Now we have set a goal. We are also facing questions and are also working hard to achieve this goal. This is also the difference between the way the previous governments functioned and our government is functioning. It is better to set difficult goals and try to achieve them instead of being directionless. This budget will help the country to achieve this goal i.e. to create a $ 5 trillion economy.
Friends,
To achieve this goal, it is very important that manufacturing in India increases and the exports also increase. For this, the government has taken several decisions. We have decided to form electronic, medical device and technology clusters across the country. It will also be supported by the National Technical Textiles Mission. We have also made policy decisions to maintain quality of the exports.
Friends,
Make in India has proved to be a great help to the Indian economy and the smaller entrepreneurs of the country. India has shown a phenomenal growth especially in the manufacturing of the electronic items. In the year 2014, electronic items worth Rs 1 lakh 90 thousand crore were manufactured. Last year, it has increased to 4 lakh 60 thousand crore rupees. Just Imagine! In 2014, there were only 2 companies manufacturing mobile phones in India. Today India is the second largest mobile manufacturer in the world.
Friends,
In order to achieve the target of 5 trillion dollars economy, the investment of 100 lakh crore rupees on infrastructure will prove to be of great help. The ongoing work on over 6500 projects in the country will accelerate the economic activities and raise the growth level in their vicinity. Amidst these efforts, it is also true that an 'Emerging Economy' like India faces more challenges. There are also ups and downs and such a country has to suffer from the impact of global conditions. India has always overcome such situations and will continue to do so. We are improving the conditions and making continuous decisions. After the budget, the Finance Minister Nirmala ji is constantly meeting and talking to the stakeholders in different cities. It is because we take into consideration the suggestions of all and take everyone along in our journey.
Friends,
Besides the efforts to strengthen the economy, there is another crucial issue i.e. the new emerging centres of economic activities in the country. What are these new centres? These centres are our small towns, Tier-2 and Tier-3 Cities. The maximum number of poor citizens is in these cities. A large section of the middle class resides in these cities. Today more than half of the digital transactions in the country are taking place in small cities. Today, half of the start-ups being registered in the country are in Tier- 2, Tier- 3 cities. And so for the first time a government has paid attention towards the economic growth of these small cities and has shown respect towards the big dreams of the small towns and cities as well. Today, the new national highways and expressways are giving new heights to the dreams of the small towns. New airports are being built under the UDAN scheme and new air routes are providing air connectivity. Hundreds of Passport Seva Kendras have been opened in these cities.
Friends,
The small towns have benefitted the most out of the scheme of zero taxation on income up to Rs. 5 lakh. Similarly, the decisions taken to promote the MSMEs have benefitted the entrepreneurs from these cities the most. All the major announcements related to medical infrastructure in the current budget will benefit the small towns the most.
Friends,
There has been another area in our country which the governments were very hesitant to touch upon. It is the tax system. There was no change in it for years. Till now, the Process Centric Tax System used to dominate. Now it is being made People Centric. Our effort is to increase tax / GDP ratio as well as reduce tax burden on the people. Be it the GST, income tax and/or corporate tax, our government has slashed tax in every direction. Earlier the average tax rate on goods and services was 14.4 per cent, which has come down to 11.8 per cent today. In this budget itself, a major announcement has been made about the income tax slabs. Earlier, certain fixed investments were required for tax exemption. Now you have been given a choice.
Friends,
Sometimes, there is no problem for the citizens in paying tax, but they are troubled more by this process and the people involved in the procedure. We have also found a solution for this. After the faceless assessment, the faceless appeal has also been announced in this budget. That is, the tax assessee will no longer know whose tax he is assessing or which city he belongs to. Not only that the person whose tax assessment is being done also will not know who the officer is! That means, no game can be played.
Friends,
Often these efforts of the government do not make headlines, but today we have joined the few countries of the world, where the Taxpayers Charter which clearly defines the rights of the tax payers will also be implemented. Now tax harassment in India is going to be a thing of the past. With the help of modern technology, now the country is moving towards Tax Encouragement.
Friends,
Constant efforts are being made by the government to make the country a tax compliant society. The country has made a lot of progress in the last 4-5 years but there is still a long way to go. I want to emphasize upon my point with some figures.
Friends,
In the last five years, more than 1.5 crore cars have been sold in the country. More than 3 crore Indians had gone abroad either for work, business or leisure. But the situation is such that in our country of more than 130 crore population, only 1.5 crore people pay income tax. Of this, the number of those declaring income above Rs 50 lakh per year is about 3 lakh. Let me give you another figure. In our country great doctors, lawyers, Chartered Accountants, and a number of professionals who are proficient in their respective fields, are serving the nation. But it is also a fact that there are only 2200 professionals in the country who declare their annual income to be more than one crore rupees. Only 2200 professionals all over the country!!!
Friends,
When we see that people are going out for vacations and buying cars of their choice, it feels good. But when we look at the number of tax payers, it grows our concerns. This contrast is also a reality of the country. When a lot of people do not pay taxes and try to find ways of tax evasion, then the load falls on those who pay tax honestly. Therefore, today I would urge every Indian to introspect this matter. Do you accept this situation? Today, whether it is personal income tax or corporate income tax, India is among the countries in the world where the lowest tax is levied. Then shouldn't this inequality end?
Friends,
The tax received by the Government is used for the welfare schemes in the country and for improving infrastructure. With this tax money, new airports are built in the country, new highways are built and work is done for the metro. The government is able to do a lot like providing free gas connection, electricity connection, cheaper groceries to the poor, gas subsidies , petrol and diesel subsidies, scholarships because some of the country's responsible citizens are paying taxes faithfully. And so, it is very important that every person in the country, whom the country and the society have given so much, should perform his/her duty. He should pay tax honestly to the country because of which his income has become taxable. Today from the Times Now platform, I would urge all the countrymen to take a vow commemorating those who had dedicated their lives for the country. Remember those who sacrificed their lives in liberating the country. Recalling those great heroic sons and daughters of the country, they must take a vow to honestly pay their taxes.
The year 2022 is going to be 75 years of independence. Link your resolutions and duties with this great event. I also have a request for the media world. Media has played a huge role in building an independent India. Now the media should also expand its role in building a prosperous India. Just as the media has launched an awareness campaign on Swachh Bharat and single-use plastic, it should also continuously campaign on the challenges and needs of the country. If you have to criticize the government and pick out faults in our plans you are free to do that. It is a very important feedback for me personally; but also try to make the people of the country constantly aware. Create awareness not just with the news but also with the topics that give direction to the country.
Friends,
Following one's duties plays a crucial role in turning the 21st century to India's century. When the duties that the country expects us to perform as citizens are fulfilled, then the country also gets a new strength and energy. This new energy and new power will take India to new heights even in this decade. This decade is going to be the decade for the start-ups of India. This decade is going to be decade for the Global Leaders of India. This decade is going to be the decade for a strong network of Industry 4.0 in India. This decade is going to be the decade for an India which is run by Renewable Energy. This decade is going to be a decade of Water efficient and Water Sufficient India. This decade is going to belong to the small towns of India and our villages. This decade belongs to the 130 crore dreams and aspirations. I am sure that many suggestions to make this decade the decade of India will come out of the first summit of Times Now. And with criticism and suggestions, some points on duties will also come up.
Best wishes to all of you again.
Thanks a lot !!!